Algerian state energy firm Sonatrach resumed oil and gas exploration drilling in Libya in mid-October, Libya’s National Oil Corporation (NOC) said on Thursday, as several international majors have restarted work in Libya’s oil and gas basins.
Algeria’s Sonatrach is drilling an exploration well in the Ghadames basin close to the Libyan-Algerian border, according to an NOC statement carried by Arab newspaper Asharq Al-Awsat.
Sonatrach is back working at the site in the Ghadames basin, after quitting more than 10 years ago “due to unstable security situation at that time,” NOC said.
In July, NOC and Sonatrach signed agreements to boost cooperation in petroleum operations and services, training, and expertise exchange.
Apart from Algeria’s state energy firm, international majors are also back to business in Libya.
Italy’s energy giant Eni, for example, has resumed exploration activities in the offshore area northwest of Libya after a hiatus of more than five years, NOC said in early October.
In July, NOC signed agreements with supermajors BP and Shell to explore and evaluate the oil and gas potential of several fields in the African country, marking another step in Big Oil returning to doing business in Libya.
NOC signed a memorandum of understanding with BP under which the UK-based supermajor will conduct studies to assess the potential for hydrocarbon exploration and production in the Messla and Sarir fields, as well as in some surrounding exploration areas.
Separately, the Libyan corporation has reached an agreement with Shell for the oil and gas major to evaluate hydrocarbon prospects and conduct a comprehensive technical and economic feasibility study to develop the al-Atshan field and other fields fully owned by the NOC.
NOC also confirmed that BP intends to resume operations in Libya and reopen its office in the capital, Tripoli, by the fourth quarter of 2025, to manage its projects and closely supervise their progress in the country.
By Charles Kennedy for Oilprice.com
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